Commemorative
Commemorative$Direxion Semicon Bull 3X(SOXL.US)$AMD(AMD.US)$Micron Tech(MU.US)
The night market surged pre-market, but it was driven by extremely low trading volume.
There were very few buy orders below 189 pre-market. The buy orders set by institutions were all around the 1-hour EMA 20, which is near 174. Therefore, the opening price kept falling to find buy orders until it found enough buy orders at the night market opening high of 174, forming support and stopping the price decline.
To put it more simply, after the price broke through, it lacked a secondary retest. The drop at the opening was that secondary retest.
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